Creating a meaningful HR Strategy
In order to develop and grow your business, it is vital to put in place a powerful people strategy. To further your business aims and ambitions, focus on your greatest asset – your people!
When you think about it, more often than not, the frustration or stress we all feel at work has something to do with people. And if you conducted a survey on job satisfaction, an overwhelming number of employees would admit to feelings of being over worked, under paid, undervalued and not fully motivated or engaged – which is all rather soul destroying!
Start as you mean to go on in 2020 by creating an effective HR strategy which will serve to align your employees with your overall business objectives.
1. People Planning
Map out and review how many employees you actually need, in which roles and at what levels. Thorough people planning will save you much wasted time and energy, never mind money when it comes to recruiting. When someone leaves your business for whatever reason, take time to consider their role carefully before hiring for the exact same position. How and where you find the right people for your business needs is another important consideration – Recruiting someone who isn’t right for the job can be a costly exercise!
2. Reducing Risk
Ensure from the outset that you have robust contracts of employment, as well as up to date policies and procedures in place to protect you and your business, should things go wrong. Being equipped to deal with employee relations issues swiftly, fairly and reasonably, will help you avoid unnecessary tension in the workplace and the dread of expensive Employment Tribunal claims!
3. Performance Management
Employee performance can be measured in a variety of different ways and in many companies, the age-old Annual Appraisal has now been replaced by more regular Performance Conversations. Whether you meet formally or informally, quarterly or monthly, the key is consistency and the ability to communicate openly and honestly with your employees. It is important to implement a process which works for your business and one which will allow you to monitor and reward your team whilst enabling you to guide and support those who are off track.
4. Remuneration and Rewards
Pay structure, benefits, pay rises and bonus schemes. All of these elements are critical to get right if you wish to attract and then retain the best people for your business. It is important to have a clear pay structure in place, with attractive benefits, the opportunity to advance and to be rewarded with bonuses when goals and targets are achieved or exceeded. All the while remembering that the pay and benefits structure you put in place needs to be aligned with your business objectives.
With the New Year now in full swing, we have been discussing HR Strategy and Performance Management with several of our clients. If you feel you need some support and advice in this area, please call The HR Team for a friendly chat and a sensible, pragmatic approach to your HR needs.